News Summary: Panel wary of US companies in Macau

News Summary: US panel urges scrutiny of casino companies in Macau over money laundering fears

Associated Press

CASINO RAP: Members of a congressional advisory panel say U.S. regulators should tighten scrutiny of casino companies operating in Macau, the world's top gambling market, because of the risk of money laundering.

THE LINEUP: Nevada-based Las Vegas Sands Corp., Wynn Resorts Ltd. and MGM Resorts International are among six operators that have shared in the casino boom in Macau, the only place in China where gambling is legal.

BIG PLAYERS: Most of Macau's gambling revenue comes from mainland Chinese gamblers. To get around limits on how much can be taken home, some wealthy Chinese gamblers use so-called junket agents who arrange visits to private VIP rooms, lend them money for their bets and collect on debts. The structure "effectively allows people to use the casinos to circumvent" capital controls," Commission Chairman William Reinsch said,

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